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| Bushveld Minerals |
South Africa’s Bushveld Minerals reported a year-on-year decrease in vanadium production for the third quarter of 2024, as the company continues a controlled operational slowdown at its Vametco complex due to liquidity challenges. Despite the reduced output, Bushveld reaffirmed its focus on Vametco as its core vanadium-producing asset following the sale of its Vanchem processing plant.
Q3 Production Highlights
- Vanadium production at Vametco: 855 tonnes (t), down 15% year-on-year.
- Aggregate output for January-September: 2,546t, a decrease of 8.5% compared to the same period last year.
- Nitro-vanadium output at Vametco: 485t in Q3, an 11% decline from the previous year, and 1,387t for January-September, down by 19%.
The slowdown at Vametco was attributed to ongoing cash flow challenges, prompting Bushveld to revise its 2024 production guidance downward in alignment with its liquidity management strategy.
Vanchem Processing Plant Sale and Q3 Output
Earlier this month, Bushveld completed the sale of its Vanchem vanadium processing plant to investment fund Southern Point Resources, consolidating its focus on Vametco. Vanchem’s Q3 output totaled 370t, down 19% year-on-year due to mill issues following maintenance in May. Vanchem’s Q3 production breakdown included:
- Ferro-vanadium: 65t
- Vanadium pentoxide flake: 236t
- Other vanadium chemicals: 69t
Bushveld Minerals’ strategic divestment of Vanchem and reduced production guidance underscore its efforts to stabilize operations and focus on its primary asset amid global market fluctuations.
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